These were some of the most important observations made during the first day of the opening session of the Sixth Global Competitiveness Forum on “The Entrepreneurship Imperative”.
John A. Quelch, distinguished professor of international management, vice-president and dean at CEIBS, the leading China-based international business school, moderated the session.
George Buckley, chairman and CEO, 3M, who delivered the opening keynote address, said the best way to remain competitive is to innovate.
“There are no silver medals awarded for second place in a ‘winner takes all’ world. You have to change faster than the competitors. The best way to forecast the future is to create it. Innovation is risky but essential. If you don’t innovate you can never win the competitive battle no matter how hard you try. You must innovate to survive. There is no data on the future — innovation is what we need. You cannot innovate without being an optimist.”
Anna Dutra, CEO, Korn/Ferry Leadership and Talent Consulting, said successful entrepreneurs should be “fearless” personalities.
“Great entrepreneurs see the opportunity where we don’t see it. They have this ability to look at the economy and market place and spot opportunities, take risks. They thrive on their challenge. They take the risks. They are fearless, but they only succeed under certain conditions.”
Fadi Ghandour, founder and CEO, Aramex, added: “We have to ask how we can educate our youth on the fact that an entrepreneurial culture is a good career that you want to risk. We don’t need the capital of foreigners; you need their knowledge to create the jobs that we so much need.”
Magatte Wade, entrepreneur, founder and CEO, The Tiosanno Tribe, said anyone could develop an entrepreneurial spirit.
“Whatever it is that sucks in your life, that’s an opportunity to go out and build something. We are lucky people because how many are lying in hospital beds and don’t have access to the things we have? If anyone has the nerve to complain I say ‘how dare you’.”
